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Roula Khalaf, Editor of the FT, selects her favorite stories in this weekly newspaper.
The US Securities and Exchange Commission has sued Elon Musk for allegedly failing to disclose his acquisition of more than 5 percent of Twitter stock in a timely manner.
The security expert accused the CEO of Tesla, who in 2022 acquired Twitter, now known as X, of not reporting the purchase of the stock he made in March of that year in the required time .
“As a result, Musk was able to continue to buy shares at artificially low prices, allowing him to pay at least $150 million for the shares he bought back after his favorable ownership report be there,” the official said in the complaint filed Tuesday.
Musk did not immediately respond to a request for comment.
